NEW ORLEANS--(BUSINESS WIRE)--Fidelity Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) celebrated awarding more than $178,000 to New Orleans Area Habitat for Humanity homeowners today in the Crescent City, Louisiana, area.
In total, Fidelity Bank and FHLB Dallas provided $143,359 from FHLB Dallas’ Disaster Rebuilding Assistance (DRA) program and $35,000 from its Special Needs Assistance Program (SNAP).
Through member institutions, DRA provides funds for the repair, rehabilitation and reconstruction of owner-occupied housing affected by a disaster event in federally declared disaster areas within FHLB Dallas’ District. SNAP provides subsidies for the repair and rehabilitation of owner-occupied housing of eligible, special-needs individuals.
“Because of this donation, we were able to provide crucial repairs to homeowners in need,” said Marguerite Oestreicher, executive director of New Orleans Area Habitat for Humanity. “We are grateful that FHLB Dallas and Fidelity Bank recognize the importance of affordable homeownership and have made this investment in the New Orleans area.”
To celebrate, representatives from the banks joined Crescent City-area homeowners Valerie Thornton Bartholomew and Betty Kennedy for ceremonial check presentations at their homes. Ms. Thornton Bartholomew received $5,550 in SNAP funding to build a wheelchair ramp at her home and Ms. Kennedy received $8,795.95 in DRA funds for a new roof.
Ms. Thornton Bartholomew, 58, was diagnosed with multiple sclerosis about 14 years ago and now uses a wheelchair. As the disease progressed, multiple steps up to her door made it difficult to get in and out of her home.
“This ramp has meant life for her,” said Danica Bartholomew, her daughter. “We saw the quality of her life immediately improve. Instead of being inside all day, she’s able to get out and enjoy a wider world.”
In 2022, FHLB Dallas set aside $750,000 of its 2022 Affordable Housing Program (AHP) funds for DRA, and $1.5 million for SNAP. Funding for both has been exhausted for the year.
“New Orleans has learned to live with catastrophic weather events over its more than 300-year history,” said Fidelity Bank President and CEO Chris Ferris. “It is an honor to be able to assist these women with the help of DRA and SNAP funds.”
Bruce Hatton, vice president and Affordable Housing Program Manager at FHLB Dallas, said the two programs have been in high demand.
“Our SNAP funding is often allocated within just days of it being released each January, and DRA has been in high demand due to the number of storms that have hit the Gulf Coast region in recent years,” he said. “We are thankful for our relationship with Fidelity Bank that made these awards possible.”
For more information about DRA, visit fhlb.com/dra. For more information about SNAP, visit fhlb.com/snap.
About Fidelity Bank
Founded in 1908, Fidelity Bank is a $1 billion in assets mutual financial institution chartered by the state of Louisiana. Fidelity Bank provides a full array of banking services, with high integrity and personalized service to communities throughout Southeast Louisiana. Fidelity Bank’s mission is Here for Good. Visit Fidelity Bank or www.bankwithfidelity.com.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.
